Kuwait's KPC says crude oil production capacity to reach 4.75 mln barrels a day in 2040

KUWAIT – KUWAIT, Jan 31 (Reuters) - Kuwait Petroleum Corp said on Wednesday it aimed to reach crude oil production capacity of 4.75 million barrels per day (bpd) in 2040.

Chief Executive Officer Nizar al-Adsani also said refining capacity was expected to grow to 2 million bpd by 2035.

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KPC is expected to spend $114 billion in capital expenditure over the next five years and an additional $394 billion beyond that to 2040, he said. (Reporting By Ahmed Haggagy; Writing By Maha El Dahan; Editing by Christian Schmollinger)